Major Record labels sue AI music companies for copyright infringement

Today’s Highlights:

📰 News: Universal Music Group sues 2 AI music companies for copyright infringement, while partnering w/ SoundLabs to provide AI voice cloning tech to it’s artists

💰 Funding: OpenAI acquires Rockset for nine-figures

⚡️ Top News Stories:

1. Universal Music Group, Sony Music Entertainment, and Warner Records are suing AI music companies Suno and Udio (which create original songs using text prompts) for alleged mass copyright infringement.

2. Universal Music Group (UMG), the world’s largest music company, has partnered with AI music tech startup SoundLabs to provide AI voice cloning tech to its artists, emphasizing ethical use and control.

3. Stability AI appoints a new CEO (Prem Akkaraju, a former Weta Digital executive) amid financial struggles, while an investor group led by Sean Parker provides crucial bailout funding.

4. Apple is blocking the release of Apple Intelligence, and other new features, in the EU, citing the Digital Markets Act (DMA) regulations as a threat to user privacy and data security. 

5. Despite reports to the contrary, Apple turned down an AI partnership with Meta, citing privacy concerns and favoring ChatGPT and Gemini partnerships.

6. Y Combinator and 140 AI founders oppose California's AI regulation bill, SB 1047, fearing it will harm small startups despite targeting large AI models.

7. Cohere has released its Command R and Command R+ AI models on Oracle Cloud Infrastructure (OCI), emphasizing strong privacy and security, with features like retrieval-augmented generation for accurate information, multilingual capabilities, and automation for business processes.

8. Google is reportedly developing AI-powered chatbots based on celebrities and YouTube influencers, similar to existing products from startups like Character.ai and Meta.

9. Amazon is developing an AI service, codenamed "Metis," to compete with ChatGPT, utilizing the Olympus AI model for enhanced capabilities.

💰 Top Funding News:

1. OpenAI acquires Rockset, a leading real-time analytics database company, in order to enhance its AI retrieval infrastructure. The deal terms were undisclosed, however are expected to be for nine-figures. 

2. Poolside.ai, which utilizes generative AI to develop tools aimed at accelerating software development, is in the process of raising over $400M+, and is being co-led by Bain Capital Ventures (BCV) and DST.

3. HeyGen, which uses generative AI to create realistic-looking avatars that can speak in users' voices and translate speech into multiple languages, raised a $60M Series A, led by Benchmark w/ Conviction, Thrive Capital, BOND, and notable angels. 

4. Speak, which uses AI to power its language learning platform that focusing on speech recognition models to help users practice and perfect their speaking patterns and pronunciation, raised a $20M Series B extension, led by Buckley Ventures, w/ the OpenAI Startup Fund, Khosla Ventures, and notable angels.  

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